That bill that was supposed to restore consumer confidence and save our economy? Turns out it didn't pass, and it was really supposed to do so.

http://www.msnbc.msn.com/id/26884523/_________________When I am weaker than you, I ask you for freedom because that is according to your principles; when I am stronger than you, I take away your freedom because that is according to my principles.
-Children of Dune, attributed to Louis Veuillot

Look at that stock market? Dropped 400+ points in 10 minutes after the bill failed to pass.

_________________When I am weaker than you, I ask you for freedom because that is according to your principles; when I am stronger than you, I take away your freedom because that is according to my principles.
-Children of Dune, attributed to Louis Veuillot

Didn't we have a bailout in 1987? Isn't repeated bailout going to create a moral hazard? Would it not make much more sense to force companies to disclose their mortgage holdings. The bill, as it exists allows Bush's Secretary of Commerce the ability to spend any more than $700 billion on without further congressional approval.

Would it not make much more sense to force companies to disclose their mortgage holdings.

In the immediate future? No. I do, however, think that there is some real merit to the idea of creating a bill to insure $700B-$1T of bad/risky debt instead of the purchasing plan which is the focus (though it does include some insuring) of the bills currently at hand.

afarrell wrote:

The bill, as it exists allows Bush's Secretary of Commerce the ability to spend any more than $700 billion on without further congressional approval.

You're living in the past, my friend. The plan that actually made it to the House involved installments (a first installment of $100B or $350B) and Congressional oversight after that first installment had been spent._________________When I am weaker than you, I ask you for freedom because that is according to your principles; when I am stronger than you, I take away your freedom because that is according to my principles.
-Children of Dune, attributed to Louis Veuillot